Macfarlane Group (MACF)

Sector:

Support

Index:

FTSE Small Cap

116.25p
   
  • Change Today:
    -1.25p
  • 52 Week High: 129.00
  • 52 Week Low: 69.20
  • Currency: UK Pounds
  • Shares Issued: 157.81m
  • Volume: 30,745
  • Market Cap: £183.46m
  • RiskGrade: 179

Macfarlane to stay profitable despite demand slump

By Sean Farrell

Date: Tuesday 12 May 2020

LONDON (ShareCast) - (Sharecast News) - Macfarlane said it expected to stay profitable in 2020 despite demand for its packaging products falling by up to a quarter during the Covid-19 crisis.
Britain's biggest packaging distributor said demand for boxes and labels would fall by 20% to 25% during the second quarter from a year earlier. Customers in sectors such as vehicle manufacturing, aerospace and retail have been badly hit by the economic shutdown, it said.

Chairman Stuart Paterson told Macfarlane's annual general meeting the company expected the second quarter to be profitable but that profit would be well below than in the first three months of the year. The company, whose year ends in December, has furloughed about 30% of its more than 925 employees under the UK's job retention programme.

The Glasgow-based company cancelled its final dividend in March to save £2.8m of cash. Net bank debt has fallen to less than £6m from £12.7m at the end of December helped by £4m of deferred tax and bonuses and board salary cuts. Paterson said there was "significant headroom" on its £30m loan facility with Lloyds Banking Group.

"Based on actions taken to date and current levels of trading, we expect the business to remain profitable in 2020 and to operate within the current borrowing facility," Paterson said.

Paterson reiterated previous guidance that the board remained committed to paying dividends.

"Once trading has recovered in line with more normal levels and we have more clarity about the longer-term outlook, the board's intention is to recommence dividend payments either by augmenting regular dividends or by declaring a special dividend," he said.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

MACF Market Data

Currency UK Pounds
Share Price 116.25p
Change Today -1.25p
% Change -1.06 %
52 Week High 129.00
52 Week Low 69.20
Volume 30,745
Shares Issued 157.81m
Market Cap £183.46m
RiskGrade 179

MACF Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
7.16% below the market average7.16% below the market average7.16% below the market average7.16% below the market average7.16% below the market average
55.77% above the sector average55.77% above the sector average55.77% above the sector average55.77% above the sector average55.77% above the sector average
Price Trend
58.25% above the market average58.25% above the market average58.25% above the market average58.25% above the market average58.25% above the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average
Income
25.58% above the market average25.58% above the market average25.58% above the market average25.58% above the market average25.58% above the market average
60.56% above the sector average60.56% above the sector average60.56% above the sector average60.56% above the sector average60.56% above the sector average
Growth
54.80% above the market average54.80% above the market average54.80% above the market average54.80% above the market average54.80% above the market average
43.40% above the sector average43.40% above the sector average43.40% above the sector average43.40% above the sector average43.40% above the sector average

MACF Dividends

  Latest Previous
  Final Interim
Ex-Div 13-May-21 10-Sep-20
Paid 03-Jun-21 08-Oct-20
Amount 1.85p 0.70p

Trades for 23-Jun-2021

Time Volume / Share Price
13:22 500 @ 117.00p
13:15 14,445 @ 117.04p
13:06 1,000 @ 117.00p
13:03 401 @ 115.45p
12:46 150 @ 118.00p

MACF Key Personnel

CEO Peter Atkinson
Chair Stuart R Paterson

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